Healthcare of Ontario Pension Plan Trust Fund Grows Stock Position in First Solar, Inc. $FSLR

Healthcare of Ontario Pension Plan Trust Fund lifted its position in First Solar, Inc. (NASDAQ:FSLR) by 2,498.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,244 shares of the solar cell manufacturer’s stock after acquiring an additional 106,002 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in First Solar were worth $21,747,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in First Solar by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 2,919,991 shares of the solar cell manufacturer’s stock valued at $761,396,000 after acquiring an additional 24,206 shares during the period. Viking Global Investors LP increased its stake in First Solar by 60.6% in the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after purchasing an additional 854,919 shares during the period. Amundi lifted its position in shares of First Solar by 9.4% during the fourth quarter. Amundi now owns 2,215,461 shares of the solar cell manufacturer’s stock worth $578,791,000 after purchasing an additional 189,626 shares during the last quarter. Norges Bank bought a new stake in shares of First Solar during the fourth quarter worth $392,040,000. Finally, Schroder Investment Management Group boosted its stake in shares of First Solar by 7.6% during the fourth quarter. Schroder Investment Management Group now owns 1,427,105 shares of the solar cell manufacturer’s stock valued at $372,803,000 after purchasing an additional 100,908 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $202.82 on Monday. First Solar, Inc. has a twelve month low of $171.99 and a twelve month high of $320.95. The company’s 50 day moving average is $248.59 and its 200 day moving average is $226.61. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a market cap of $21.79 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 0.45 and a beta of 1.73.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the company earned $1.95 EPS. The business’s revenue was up 23.6% on a year-over-year basis. On average, sell-side analysts forecast that First Solar, Inc. will post 17.54 EPS for the current year.

Insider Transactions at First Solar

In other First Solar news, CFO Alexander R. Bradley sold 498 shares of First Solar stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $107,383.74. Following the transaction, the chief financial officer directly owned 30,712 shares of the company’s stock, valued at $6,622,428.56. The trade was a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kuntal Kumar Verma sold 582 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $250.00, for a total value of $145,500.00. Following the sale, the insider directly owned 4,967 shares of the company’s stock, valued at approximately $1,241,750. This trade represents a 10.49% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 31,893 shares of company stock worth $7,893,775 in the last quarter. 0.39% of the stock is owned by insiders.

Analyst Ratings Changes

FSLR has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded First Solar from a “hold” rating to a “buy” rating and boosted their price target for the company from $245.00 to $272.00 in a report on Monday, July 6th. Evercore upped their target price on First Solar from $212.00 to $219.00 in a report on Monday, May 4th. Wells Fargo & Company increased their price target on First Solar from $255.00 to $320.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Zacks Research upgraded First Solar from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Jefferies Financial Group restated a “hold” rating and set a $207.00 price target on shares of First Solar in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $257.10.

Key First Solar News

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: Roth Capital reaffirmed its buy rating on First Solar and set a $300 price target, implying meaningful upside from current levels. Benzinga
• Positive Sentiment: Industry commentary highlighted record U.S. solar power output and rising electricity demand from AI data centers, which supports the broader solar demand narrative and could benefit First Solar over time. 24/7 Wall St.
• Neutral Sentiment: Several firms, including Rosen, Howard G. Smith, Schall, Kaplan Fox, Faruqi & Faruqi, and others, reminded investors about pending First Solar securities-fraud class actions and the August 24 lead-plaintiff deadline. PR Newswire
• Neutral Sentiment: Short-interest reporting showed no meaningful update, with the latest filing indicating zero shares reported short and a days-to-cover ratio of 0.0, so it does not appear to be a current market driver.
• Negative Sentiment: The ongoing securities-fraud litigation headlines create a legal overhang that may pressure the shares until there is more clarity on the case outcome.

First Solar Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin?film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility?scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.